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Afford Anything

Lessons from High-Stakes Decisions, with Polina Marinova Pompliano

Afford Anything

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Business, Investing

4.63.4K Ratings

🗓️ 17 December 2024

⏱️ 65 minutes

🧾️ Download transcript

Summary

#567: What happens when an astronaut goes blind during a spacewalk? For Chris Hadfield, this wasn't a hypothetical scenario. While working outside the International Space Station, cleaning solution from his helmet visor spread into both eyes, leaving him completely blind in the vacuum of space. His response? Stay calm and methodically evaluate options. He could call Houston. He could have a crew member rescue him. He could try to cry to flush out his eyes - though that's tricky in zero gravity. This story opens our conversation with Polina Marinova Pompliano, former Fortune Magazine reporter and author of the new book "Hidden Genius." Through her interviews with high-performers across fields — from astronauts to investors to extreme athletes — she uncovers patterns in how people handle uncertainty and build resilience. Take trust, for example. Reid Hoffman's formula is simple: Trust = Consistency + Time. It's not enough to show up sporadically when it's convenient. Trust builds through meeting deadlines, following through on commitments, and maintaining clear communication — even during challenges. Reliable consistency compounds over time, much like interest in an investment account. Or consider Charlie Munger's approach to beliefs. Rather than defending positions "to the death," he argues you should only claim to believe something if you can argue the opposition's viewpoint better than they can. This forces you to genuinely understand different perspectives rather than just reflexively disagreeing. The conversation explores how people navigate major setbacks, from Conrad Anker surviving an avalanche that killed his climbing partners to Polina's own experience of quitting Fortune magazine right before COVID hit. A key theme emerges: resilience isn't about avoiding difficulty, but about training yourself to handle it through small daily practices. Former Navy SEAL David Goggins calls this "callusing the mind." By deliberately doing one uncomfortable thing each day - whether that's running in the rain or having a difficult conversation - you build your capacity to handle larger challenges. The goal isn't to become superhuman, but to expand your comfort zone step by step. Other topics include: - How immigrant experiences shape risk perception - The shift from institutional to individual trust in media - Reframing "failure" as redirection - Building competence as an antidote to fear - Finding signal in the noise of information overload Enjoy the conversation! For more information, visit the show notes at https://affordanything.com/episode567 Resources: James Clear Episode 156: https://affordanything.com/156-how-to-build-incredible-habits-with-james-clear/ Annie Duke Episode 281: https://affordanything.com/281-the-art-of-decision-making-with-annie-duke/ Annie Duke Episode 424: https://affordanything.com/424-the-power-of-knowing-when-to-walk-away-with-annie-duke/ Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

Imagine that you're 250 miles above Earth.

0:03.5

You're floating in the darkness of space.

0:05.9

And suddenly, you go completely blind.

0:10.4

Your heart rate spikes, your blood pressure surges,

0:14.0

but you have to stay calm.

0:16.0

Because in that moment, the difference between life and death comes down to how clearly you can think when you're under extreme pressure.

0:29.0

You and I are probably never going to be in that position.

0:32.3

But the best investors and business leaders, they know that they need to study more than just finance and economics.

0:39.2

They need to draw insights from everywhere, from biology, from psychology, from sports, and from space.

0:46.8

And they build this into a rich web of mental models that helps them see patterns that others miss.

0:54.7

The great investor Charlie Munger talks about building a latticework of mental models that helps them see patterns that others miss. The great investor, Charlie Munger, talks about building a lattice work of mental models

0:58.7

that comes from this interdisciplinary look.

1:02.2

And that's what we're going to do in today's conversation.

1:05.9

We're going to peek inside the minds of people who regularly make high-stakes decisions.

1:12.8

Welcome to the Afford Anything podcast, the show that understands you can afford anything

1:16.9

but not everything.

1:18.5

Every choice carries a trade-off.

1:20.5

And that applies not just to your money, but to your time, your focus, your energy, your

1:24.3

attention, to any limited resource you need to manage.

1:28.1

This show covers five pillars.

1:30.0

Financial Psychology, increasing your income, investing, real estate, and entrepreneurship.

1:34.9

It's double eye fire.

...

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